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More Secrets at the Federal Reserve Revealed

The Federal Reserve fought tooth and nail for over two years to keep their actions hidden from the American people. The central bank lost part of their battle for secrecy when they were court ordered through a Freedom of Information Act request to release 29,000 pages of documents earlier this year. Although it was just a one-time and limited release of their records, the papers revealed that among the largest recipients of the Fed’s money were foreign banks during the 2008 economic meltdown. Bloomberg News has further examined the thousands upon thousands of pages of transactions to discover more Fed secrets.

The Federal Reserve had committed $7.77 trillion as of March 2009 to “rescuing” the financial system, according to a new study from Bloomberg News. The Fed also kept secret which banks were in trouble during the height of the financial crisis while bankers were taking in tens of billions of dollars in emergency loans. Bloomberg has calculated that the secret Fed loans helped banks net a whopping $13 billion. All of these numbers are staggering but not exactly surprising. The unelected bureaucrats at the Federal Reserve have fought to keep their dealings behind closed doors for a reason.

Fed Chairman Ben Bernanke is desperate to protect his privileged secrecy. Bloomberg writes that he “argued that revealing borrower details would create a stigma -- investors and counterparties would shun firms that used the central bank as lender of last resort -- and that needy institutions would be reluctant to borrow in the next crisis.” Helicopter Ben, a nickname he acquired by essentially stating that the government could “defeat” deflation by dropping money out of helicopter, cares more about protecting the reputation of his cronies than letting the American people know where their money is going.

Bloomberg reports that Fed officials haven’t told the truth about the bank bailouts. The news agency writes that, “while Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.” The Federal Reserve is ripping off the American people by printing money out of thin air which devalues the value of the dollar to bail out the big banks.

As Senator Rand Paul (R-Ky.) writes, “this is just one more reason why we need a full audit of the Fed.” The court ordered released documents are disturbing enough. But imagine what kind of mischief we would find out through a comprehensive audit. A real audit of the Fed would also inspect how it determines interest rates, which is one of the most crucial activities of the central bank. We still need to pass a true audit of the Fed such as Sen. Rand Paul and Rep. Ron Paul’s Federal Reserve Transparency Act of 2011, which would require comprehensive audits on a regular basis.

An overwhelming 75% of Americans want a comprehensive audit of the Federal Reserve, according to a recent Rasmussen poll. The calls for a true audit are getting louder and stronger by the day. More Republican presidential candidates are starting to echo Ron Paul’s long held beliefs on the Fed. The fight for transparency is transcending party lines, with fiscal conservatives such as Ron Paul and self-identified Democratic socialist Senator Bernie Sanders working together to remove the Fed’s cloak of secrecy.

We will win our immediate goal when the Fed is thoroughly audited. Then the next step becomes ending the Federal Reserve and finally restoring sound money in America.

when a person is to be elected he should be the best there is ,wazz ,and hopefully the best there will ever be .we have to decide who can handle the world this election not just the USA﻿ .And if we do that we should do it by how our country was founded by liberty.that is what we are pushing for democracy around the globe .We Cant afford to have a President with Baggage. So I have to Cast my vote for Ron Paul for President

As pretty much everyone expected, President Obama’s nomination for Federal Reserve chairman is a big-government Keynesian. Many left-wing pundits are applauding the nomination of Janet Yellen, the current Vice Chair of the Board of Governors of the Federal Reserve System. She has held many prominent jobs within the Federal Reserve and politics.

Sen. Rand Paul’s campaign to get a vote to audit the Federal Reserve as a condition for considering the nomination of Janet Yellen for Federal Reserve chair is gaining support from one Congressman. Rep. Kerry Bentivolio (R-MI) has written a letter in support of Paul’s Federal Reserve Transparency Act, S. 209.

Sen. Rand Paul is leading an effort to get a vote on auditing the Federal Reserve as a condition for considering the nomination of Janet Yellen for Federal Reserve chair. Sen. Ted Cruz has released a statement supporting this strategy to finally get a vote on auditing the Fed:

We have been living in the Bernanke Era since 2006, a period at the Federal Reserve where Quantitative Easing, or QE, became the tool of choice for propping up Wall Street. Ben Bernanke is retiring soon, and after a rather messy nomination process by the White House that saw Larry Summers surface then sink in a matter of a couple weeks, we now have learned that Janet Yellen is the President's choice to follow Bernanke as Chairman of the Federal Reserve.

"There is no entity in the world that controls our lives more than the Federal Reserve System" - Harry Reid, 1995. While Harry Reid admits the unchecked power of the Federal Reserve, he has failed to act to provide oversight of the central bank. Despite the concentrated power of the Federal Reserve, it has little accountability from Congress or any branch of government.

Ben Bernanke is arguable the most well equipped Fed chairman America has ever seen, and I mean that sincerely! His academic accomplishments are top notch; and his career as a public official is equally impressive. He has been a ranking member of some of the most influential and prestigious economics advisory councils and research groups in the nation. By all accounts, Ben is the best conceivable man for the job of Chief Central Banker!

Senator Rand Paul has reintroduced legislation to audit the Federal Reserve in the Senate. The bill, S. 209, currently has 24 cosponsors. This legislation is important because the people deserve to know who the Federal Reserve is bailing out behind closed doors. Here are the Republicans that have not cosponsored the audit the Fed bill yet. Please call them or tweet at them and politely ask them to cosponsor S. 209!

The debt ceiling debate reached a new level of absurdity when some pundits began tossing around the idea of a $1 trillion coin. Instead of advocating for spending cuts to avoid hitting the $16.4 trillion debt limit, proponents of the one trillion dollar coin believe that the Federal Reserve just needs to create more money. They want the U.S.

Throughout the various rounds of quantitative easing enacted by the Federal Reserve in response to a persistently sluggish economy, advocates of loose monetary policy have kept a gleeful eye on the Consumer Price Index, pointing to the lack of measured inflation as evidence for the soundness of their ideas and the groundless paranoia of their detractors.